Lakeside at Walden 1806, 1810, & 1813 Hemlock Pl ...€¦ · 1806, 1810,& 1813 Hemlock Pl Schaumburg, IL 60172 MATTHEW PETERSEN JOHN MEYER SEAN CONNELLY Broker Managing Director Principal

A Multifamily Investment Offering

Lakeside at Walden1806, 1810, & 1813 Hemlock PlSchaumburg, IL 60172

MATTHEWPETERSEN

JOHNMEYER

SEANCONNELLY

Broker Managing Director Principal269.873.6101 773.312.5414 [email protected] [email protected] [email protected]

Presented by:

CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from 33 Realty its directors, officers, agents,advisors, affiliates and/or any third party sources are provided without representation or warranty asto completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and allother matters.

Neither 33 Realty its directors, officers, agents, advisors, or affiliates makes any representation orwarranty, express or implied, as to accuracy or completeness of the any materials or informationprovided, derived, or received. Materials and information from any source, whether written orverbal, that may be furnished for review are not a substitute for a party’s active conduct of its owndue diligence to determine these and other matters of significance to such party. 33 Realty will notinvestigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including through appropriatethird party independent professionals selected by such party. All financial data should be verified bythe party including by obtaining and reading applicable documents and reports and consultingappropriate independent professionals. 33 Realty makes no warranties and/or representationsregarding the veracity, completeness, or relevance of any financial data or assumptions. 33 Realtydoes not serve as a financial advisor to any party regarding any proposed transaction. All data andassumptions regarding financial performance, including that used for financial modeling purposes,may differ from actual data or performance. Any estimates of market rents and/or projected rentsthat may be provided to a party do not necessarily mean that rents can be established at orincreased to that level. Parties must evaluate any applicable contractual and governmental limitationsas well as market conditions,vacancy factors and other issues in order to determine rents from or forthe property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussedby the party with a certified public accountant or tax attorney. Title questions should be discussed bythe party with a title officer or attorney. Questions regarding the condition of the property andwhether the property complies with applicable governmental requirements should be discussed bythe party with appropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by 33 Realty in compliance with all applicablefair housing and equal opportunity laws.

TABLE OF CONTENTS

OFFERING INFORMATION 3

FINANCIAL ANALYSIS 11

LOCATION INFORMATION 19

SALE COMPARABLES 23

RENT COMPARABLES 31

DEMOGRAPHICS 39

LAKESIDE AT WALDENTABLE OF CONTENTS

Page 2MORE INFORMATION AVAILABLE ONLINE: 33REALTY.COM

OFFERING INFORMATION

Section 1

MORE INFORMATION AVAILABLE ONLINE: 33REALTY.COM

PROPERTY DESCRIPTION

33 Realty's pleased to present for sale, as a de-conversion opportunity, Lakeside At WaldenCondominiums at 1806-1810 Hemlock Place in Schaumburg, IL. Well situated on 4.5 acresnestled next to a large pond, the Offering consists of 99 units. The three-story buildingsinclude 1806, 1810 and 1813 Hemlock including ample parking.

The Lakeside at Walden Condos presents a terrific opportunity to add value by bringing theconsistency and efficiency of a single ownership group to the property. The Lakeside Condoshas great potential to raise rents to market levels with renovation as units become available.

There is a mix of vintage and renovated condo units in the complex. This complex has 53rental units owned with many individual owners, creating a large range of rent prices andopportunity to raise rents.

LOCATION DESCRIPTION

Schaumburg is a northwestern suburb of Chicago, Illinois. It’s known for the massiveWoodfield Mall, with hundreds of shops and restaurants. Schaumburg is roughly 28 milesnorthwest of the Chicago Loop and 10 miles northwest of O'Hare International Airport. Asof the 2010 census, the village had a total population of 74,227. In 2018 Moneymagazine ranked the Village of Schaumburg the Best Place to Live in Illinois. In 2017Money ranked Schaumburg the 9th-best place to live in the United States.

The major employers in the area include Woodfield Mall, Zurich North America, CommunityConsolidated School District 54, Motorola Solutions, OptumRx and IBM. Schaumburg is alsohome to Illinois Institute of Art - Schaumburg, Roosevelt University, Lake Forest GraduateSchool of Management and American InterContinental University.

LAKESIDE AT WALDENPROPERTY DESCRIPTION


PROPERTY DESCRIPTION

33 Realty's pleased to present for sale, as a de-conversion opportunity, Lakeside At WaldenCondominiums at 1806-1810 Hemlock Place in Schaumburg, IL 60172. Well situated on4.5 acres nestled next to a large pond, the Offering consists of 99 units. The three-storybuildings include 1806, 1810 and 1813 Hemlock including ample parking.

The Lakeside at Walden Condos presents a terrific opportunity to add value by bringing theconsistency and efficiency of a single ownership group to the property. The Lakeside Condoshas great potential to raise rents to market levels with renovation as units become available.

There is a mix of vintage and renovated condo units in the complex. This complex has 53rental units owned with many individual owners, creating a large range of rent prices andopportunity to raise rents.

LOCATION DESCRIPTION



LAKESIDE AT WALDENPROPERTY DESCRIPTION


OFFERING SUMMARY

Sale Price: $11,500,000

Net Rentable SF: 78,300 SF

Lot Size: 4.5 Acres

Price / SF: $146.87

Current Cap Rate: 5.32%

Current NOI: $611,631

Year Built: 1977

ProForma NOI: $746,640

ProForma Cap Rate: 6.22%

Renovated: 2019

Zoning: Residential Condominium

Market: Northwest Cook

LAKESIDE AT WALDENEXECUTIVE SUMMARY


PROPERTY HIGHLIGHTS

• Major Value Add Potential

• Minutes to Route 53, I-90 and I-355

• Near Restaurants And Major Shopping Center (Woodfield Mall / IKEA)

• Storage, Trash And Laundry Rooms On Each Floor

• Below Market Rents

• Secure Buildings With Cameras

• Large Pond On-Site

• Individual Electric

• Private Unit Balconies

• Ample Parking And Underground Garage Structure

• 3 New Boilers

• Brand New Iron Staircase At Parking Garage

• 2018 Re-coated Top Of Parking Lot

• In Process Tuckpointing as of Winter 2019

• All Exterior Wood Replaced, Tyvek Installed And Vinyl Siding Installed

• Balconies Are Being Replaced

• 1810 Building Has Brand New Buzzer System

• 1810 Will Be Installing A New Fire System

• Interior Parking Garage - Power Washed, Floors And Ceiling, All Re-striped

• Newer Hot Water Heaters

• New Lighting On Top Of Parking Deck

LAKESIDE AT WALDENCOMPLETE HIGHLIGHTS


LAKESIDE AT WALDENEXTERIOR PHOTOS


LAKESIDE AT WALDENUNIT PHOTOS


LAKESIDE AT WALDENCOMMON AREA PHOTOS

FINANCIAL ANALYSIS

Section 2


INVESTMENT OVERVIEW CURRENT PRO FORMA

Price $11,500,000 $12,250,000

Price per Unit $116,161 $123,737

GRM 9.3 8.5

CAP Rate 5.3% 6.1%

Cash-on-Cash Return (yr 1) 4.71 % 7.1 %

Total Return (yr 1) $304,845 $389,345

Debt Coverage Ratio 1.33 1.45

OPERATING DATA CURRENT PRO FORMA

Gross Scheduled Income $1,235,400 $1,447,200

Other Income $6,768 $12,200

Total Scheduled Income $1,242,168 $1,459,400

Vacancy Cost $61,770 $72,360

Gross Income $1,180,398 $1,387,040

Operating Expenses $568,767 $640,579

Net Operating Income $611,631 $746,460

Pre-Tax Cash Flow $153,147 $230,851

FINANCING DATA CURRENT PRO FORMA

Down Payment $3,250,000 $3,250,000

Loan Amount $8,250,000 $9,000,000

Debt Service $458,484 $515,609

Debt Service Monthly $38,207 $42,967

Principal Reduction (yr 1) $151,698 $158,493

LAKESIDE AT WALDENFINANCIAL SUMMARY


INCOME SUMMARY CURRENT PER SF PER UNIT PRO FORMA PER SF PER UNIT

Rental Income $1,235,400 $15.78 $12,478.79 $1,447,200 $18.48 $14,618.18

Laundry Income $4,301 $0.05 $43.45 $4,700 $0.06 $47.47

MISC Income $2,466 $0.03 $24.92 $7,500 $0.10 $75.76

Less Vacancy -$61,770 -$0.79 -$623.94 -$72,360 -$0.92 -$730.91

GROSS INCOME $1,180,398 $15.08 $11,923.22 $1,387,040 $17.71 $14,010.51

EXPENSE SUMMARY CURRENT PER SF PER UNIT PRO FORMA PER SF PER UNIT

Taxes $95,605 $1.22 $965.71 $188,100 $2.40 $1,900.00

Insurance $17,424 $0.22 $176.00 $17,946 $0.23 $181.28

Gas $25,000 $0.32 $252.53 $25,750 $0.33 $260.10

Electric $15,000 $0.19 $151.52 $15,450 $0.20 $156.06

Water $40,977 $0.52 $413.92 $42,207 $0.54 $426.33

Telephone $4,000 $0.05 $40.40 - - -

Trash $7,474 $0.10 $75.50 $7,699 $0.10 $77.77

Land Maintenance $36,152 $0.46 $365.17 $37,236 $0.48 $376.12

Unit Turnover $15,840 $0.20 $160.00 $16,315 $0.21 $164.80

Repairs & Maintenance $132,181 $1.69 $1,335.16 $100,000 $1.28 $1,010.10

Management Fee $34,411 $0.44 $347.60 $41,612 $0.53 $420.32

Payroll $118,800 $1.52 $1,200.00 $122,364 $1.56 $1,236.00

Reserves $25,900 $0.33 $261.62 $25,900 $0.33 $261.62

GROSS EXPENSES $568,767 $7.26 $5,745.12 $640,579 $8.18 $6,470.50

NET OPERATING INCOME $611,631 $7.81 $6,178.09 $746,460 $9.53 $7,540.00

LAKESIDE AT WALDENINCOME & EXPENSES


UNITNUMBER

UNITBED

UNITBATH

UNITSIZE (SF)

CURRENTRENT

CURRENTRENT (PER SF)

MARKETRENT

MARKETRENT/SF

1806-101 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-102 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-103 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-104 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-105 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1806-106 2 1 850 $1,325 $1.56 $1,500.00 $1.76

1806-107 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-108 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-109 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-110 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-111 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-201 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-202 1 1 800 $975 $1.22 $1,200.00 $1.50

1806-203 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-204 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-205 2 1 850 $1,350 $1.59 $1,500.00 $1.76

1806-206 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1806-207 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-208 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-209 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-210 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-211 1 1 800 $1,050 $1.31 $1,200.00 $1.50

1806-301 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-302 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-303 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-304 1 1 800 $1,000 $1.25 $1,200.00 $1.50

LAKESIDE AT WALDENRENT ROLL


UNITNUMBER

UNITBED

UNITBATH

UNITSIZE (SF)

CURRENTRENT


MARKETRENT

MARKETRENT/SF

1806-305 2 1 850 $1,500 $1.76 $1,500.00 $1.76

1806-306 2 1 850 $1,200 $1.41 $1,500.00 $1.76

1806-307 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-308 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-309 0 1 700 $900 $1.29 $1,000.00 $1.43

1806-310 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1806-311 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-101 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-102 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-103 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-104 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-105 2 1 850 $1,350 $1.59 $1,500.00 $1.76

1810-106 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1810-107 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-108 0 1 700 $900 $1.29 $1,000.00 $1.43

1810-109 0 1 700 $900 $1.29 $1,000.00 $1.43

1810-110 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-111 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-201 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-202 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-203 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-204 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-205 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1810-206 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1810-207 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-208 0 1 700 $900 $1.29 $1,000.00 $1.43



UNITNUMBER

UNITBED

UNITBATH

UNITSIZE (SF)

CURRENTRENT


MARKETRENT

MARKETRENT/SF

1810-209 0 1 700 $900 $1.29 $1,000.00 $1.43

1810-210 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-211 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-301 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-302 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-303 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-304 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-305 2 1 850 $1,450 $1.71 $1,500.00 $1.76

1810-306 2 1 850 $1,200 $1.41 $1,500.00 $1.76

1810-307 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-308 0 1 700 $1,000 $1.43 $1,000.00 $1.43

1810-309 0 1 700 $1,000 $1.43 $1,000.00 $1.43

1810-310 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1810-311 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-101 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-102 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-103 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-104 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-105 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1813-106 2 1 850 $1,250 $1.47 $1,500.00 $1.76

1813-107 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-108 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-109 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-110 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-111 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-201 1 1 800 $1,000 $1.25 $1,200.00 $1.50



UNITNUMBER

UNITBED

UNITBATH

UNITSIZE (SF)

CURRENTRENT


MARKETRENT

MARKETRENT/SF

1813-202 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-203 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-204 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-205 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1813-206 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1813-207 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-208 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-209 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-210 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-211 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-101 1 1 800 $1,000 $1.25 $1,200.00 $1.50

1813-102 1 1 800 $975 $1.22 $1,200.00 $1.50

1813-103 1 1 800 $950 $1.19 $1,200.00 $1.50

1813-104 1 1 800 $975 $1.22 $1,200.00 $1.50

1813-105 2 1 850 $1,450 $1.71 $1,500.00 $1.76

1813-106 2 1 850 $1,300 $1.53 $1,500.00 $1.76

1813-107 1 1 800 $950 $1.19 $1,200.00 $1.50

1813-108 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-109 0 1 700 $900 $1.29 $1,000.00 $1.43

1813-110 1 1 800 $950 $1.19 $1,200.00 $1.50

1813-111 1 1 800 $950 $1.19 $1,200.00 $1.50

TOTALS/AVERAGES 78,300 $102,950 $1.31 $120,600 $1.53



UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF

Studio / 1 BA 18 18.2 700 $900 $1.29 $1,000 $1.43

1 BR / 1 BA 63 63.6 800 $1,000 $1.25 $1,200 $1.50

2 BR / 1 BA 18 18.2 850 $1,320 $1.55 $1,500 $1.76

TOTALS/AVERAGES 99 100% 78,300 $102,960 $1.31 $120,600 $1.54

LAKESIDE AT WALDENUNIT MIX SUMMARY

LOCATION INFORMATION

Section 3


Lakeside at Walden Lakeside at Walden

LAKESIDE AT WALDENLOCATION MAPS


LAKESIDE AT WALDENAERIAL MAPS


LOCATION DECRIPTION



LOCATION DETAILS

Market Schaumburg

County Cook

Schaumburg, IL

LAKESIDE AT WALDENCITY INFORMATION

SALE COMPARABLES

Section 4


1

THE PRESERVE AT WOODFIELD4700 Arbor Dr Rolling Meadows, IL 60008

1

$72,000,000Sale Price: 35 AcresLot Size:

1966Year Built: 650,000 SFBuilding SF:

$110.77Price PSF: 662No. Units:

$108,761Price / Unit: 5.90%CAP:

11/30/2017Closed: 95%Occupancy:

8.80GRM: $4,250,000NOI:

UNIT TYPE # UNITS % OF SIZE SF RENT RENT SF

1bd/1ba 200 30.2 800 800 800

2bd/1ba 322 48.6 1,000 1,000 1,000

3bd/1ba 140 21.1 1,200 1,200 1,200

TOTALS/AVERAGES 662 100% $1,016 78,300 78,300

2

ARLINGTON GARDEN APARTMENTS539-551 W Euclid Ave Arlington Heights, IL 60004

2

$8,716,000Sale Price: 1.78 AcresLot Size:



$111,743Price / Unit: 7.20%CAP:


8.53GRM: $627,552NOI:

UNIT TYPE # UNITS % OF SIZE SF

1 BR / 1 BA 52 66.7 560

2 BR / 1 BA 26 33.3 680

TOTALS/AVERAGES 78 100% $0

3

BURTON GROVE CONDOS991 Charlela Ln Elk Grove Village, IL 60007

3




$110,677Price / Unit: 5.80%CAP:


9.30GRM: $1,232,500NOI:


2bd/1ba 96 50 1,000 1,000 1,000

1bd/1ba 96 50 750 750 750

TOTALS/AVERAGES 192 100% $1,050 78,300 78,300

De-conversion sale

LAKESIDE AT WALDENSALE COMPS


4

THE ELEMENT1550 Dempster Street Mount Prospect, IL 60056

4




$133,595Price / Unit: 5.88%CAP:

06/30/2017Closed: 95.9%Occupancy:

9.28GRM: $4,000,000NOI:


1 BR / 1 BA 240 47.2 650 650 650

2 BR / 1 BA 160 31.4 850 850 850

2 BR / 2 BA 50 9.8 1,500 1,500 1,500

3 BR / 1.5 BA 29 5.7 1,800 1,800 1,800

3 BR / 2 BA 30 5.9 1,500 1,500 1,500

TOTALS/AVERAGES 509 100% $1,199 78,300 78,300

5

HAVEN HOFFMAN ESTATES725 Bode Cir Hoffman Estates, IL 60169

5

$60,250,000Sale Price: 20 AcresLot Size:



$109,545Price / Unit: 5.75%CAP:


9.10GRM: $3,460,000NOI:


2bd/1ba 198 36 875 875 875

1bd/1ba 319 58 700 700 700

studio 33 6 450 450 450

TOTALS/AVERAGES 550 100% $1,021 78,300 78,300

Value add opportunity, buyer plans to invest as much as$20k per unit in renovation

6

LEGEND PARK APARTMENTS305 Cambia Dr Schaumburg, IL 60193

6




$130,313Price / Unit: 6.10%CAP:


8.40GRM: $2,917,000NOI:


3bd/1ba 52 14.2 1,000 1,000 1,000

2bd/1ba 205 55.9 800 800 800

1bd/1ba 110 30 650 650 650

TOTALS/AVERAGES 367 100% $1,133 78,300 78,300



7

THE MOORINGS619 N. Plum Grove Rd Roselle, IL 60172

7




$130,092Price / Unit: 5.70%CAP:


9.60GRM: $1,601,700NOI:


3bd/2ba 18 8.3 1,100 1,100 1,100

2bd/1ba 106 49.1 950 950 950

1bd/1ba 92 42.6 728 728 728

TOTALS/AVERAGES 216 100% $1,162 78,300 78,300

50% of units have been renovated since 2015, the other halfare vintage.

8

THE LEGACY AT POPLAR CREEK1900 Windsong Dr Schaumburg, IL 60194

8




$155,612Price / Unit: 6.20%CAP:


9.20GRM: $1,891,000NOI:


2bd/2ba 75 38.3 940 940 940

2bd/1ba 75 38.3 850 850 850

1bd/1ba 46 23.5 815 815 815

TOTALS/AVERAGES 196 100% $1,558 78,300 78,300

9

THE RESIDENCES AT 14501450 S. Busse Rd Mt Prospect, IL 60056

9




$108,558Price / Unit: 6.00%CAP:


8.70GRM: $1,446,000NOI:


2bd/1ba 111 50 700 700 700

1bd/1ba 111 50 800 800 800

TOTALS/AVERAGES 222 100% $1,072 78,300 78,300

Workforce housing



SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

Lakeside at Walden1806-1813 Hemlock PlaceSchaumburg, IL 60173

$11,500,000 78,300 SF $146.87 $116,162 5.32% 9.31 99

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

1The Preserve At Woodfield4700 Arbor DrRolling Meadows, IL 60008

$72,000,000 650,000 SF $110.77 $108,761 5.9% 8.8 662 11/30/2017

2Arlington Garden Apartments539-551 W Euclid AveArlington Heights, IL 60004

$8,716,000 46,800 SF $186.24 $111,743 7.2% 8.53 78 10/25/2018

3Burton Grove Condos991 Charlela LnElk Grove Village, IL 60007

$21,250,000 168,000 SF $126.49 $110,677 5.8% 9.3 192 12/21/2017

4The Element1550 Dempster StreetMount Prospect, IL 60056

$68,000,000 464,208 SF $146.49 $133,595 5.88% 9.28 509 06/30/2017

5Haven Hoffman Estates725 Bode CirHoffman Estates, IL 60169

$60,250,000 411,400 SF $146.45 $109,545 5.75% 9.1 550 04/16/2019

6Legend Park Apartments305 Cambia DrSchaumburg, IL 60193

$47,825,000 287,500 SF $166.35 $130,313 6.1% 8.4 367 04/11/2019

7The Moorings619 N. Plum Grove RdRoselle, IL 60172

$28,100,000 187,476 SF $149.89 $130,092 5.7% 9.6 216 01/05/2018

8The Legacy at Poplar Creek1900 Windsong DrSchaumburg, IL 60194

$30,500,000 178,490 SF $170.88 $155,612 6.2% 9.2 196 12/21/2017

LAKESIDE AT WALDENSALE COMPS SUMMARY


9The Residences at 14501450 S. Busse RdMt Prospect, IL 60056

$24,100,000 166,500 SF $144.74 $108,558 6.0% 8.7 222 07/19/2018

PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

TOTALS/AVERAGES $40,082,333 284,486 SF $140.89 $120,570 6.06% 8.99 332.44

LAKESIDE AT WALDENSALE COMPS SUMMARY


14700 Arbor DrRolling Meadows, IL 60008

THE PRESERVE AT WOODFIELD 2539-551 W Euclid AveArlington Heights, IL 60004

ARLINGTON GARDEN APARTMENTS

3991 Charlela LnElk Grove Village, IL 60007

BURTON GROVE CONDOS 41550 Dempster StreetMount Prospect, IL 60056

THE ELEMENT

5725 Bode CirHoffman Estates, IL 60169

HAVEN HOFFMAN ESTATES 6305 Cambia DrSchaumburg, IL 60193

LEGEND PARK APARTMENTS

1806-1813 Hemlock Place | Schaumburg, IL 60173SUBJECT PROPERTY

LAKESIDE AT WALDENSALE COMPS MAP


7619 N. Plum Grove RdRoselle, IL 60172

THE MOORINGS 81900 Windsong DrSchaumburg, IL 60194

THE LEGACY AT POPLAR CREEK

91450 S. Busse RdMt Prospect, IL 60056

THE RESIDENCES AT 1450


LAKESIDE AT WALDENSALE COMPS MAP

RENT COMPARABLES

Section 5


1BEECH POINTE APARTMENTS60 E Beech Dr | Schaumburg, IL 60193

1973Year Built: 151,374 SFBldg Size: 9.3 AcresLot Size:

193No. Units: 95%Occupancy: 784 SFAvg. Size:

$1.48Avg. Rent/SF: $1,164Avg. Rent:

1

2INTERNATIONAL VILLAGE1220 E. Algonquin Rd | Schaumburg, IL 60173

1969Year Built: 701,240 SFBldg Size: 41 AcresLot Size:



2

3FIELDPOINTE APARTMENTS1708 Arbor Square | Schaumburg, IL 60173




396 units class B complex

3

LAKESIDE AT WALDENRENT COMPS


4648 CARROLL SQUARE, ELK GROVE VILLAGE648 Carroll Square | Elk Grove Village, IL 60007


114No. Units: 98.2%Occupancy: 879 SFAvg. Size:


4

5FOREST COVE APARTMENTS1706 Forest Cove | Mt Prospect, IL 60056




renovated in 2016

5

6THE LAKES OF SCHAUMBURG801 Belinder Ln | Schaumburg, IL 60173




6



7THE TREEHOUSE OF SCHAUMBURG2500 Brush Rd | Schaumburg, IL 60173

1980Year Built: 609,600 SFBldg Size: 30 AcresLot Size:



7

8VILLAGE GREEN OF SCHAUMBURG880 Hadley Run Ln | Schaumburg, IL 60173




8

9PLUM GROVE APARTMENTS4655 Kirchoff Rd | Rolling Meadows, IL 60008



$1.69Avg. Rent/SF: $983Avg. Rent:

9



SUBJECT PROPERTY RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

Lakeside at Walden1806-1813 Hemlock PlaceSchaumburg, IL 60173

$1.31 0 SF 78,300 SF 99 -

RENT COMPS RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

1Beech Pointe Apartments60 E Beech DrSchaumburg, IL 60193

$1.48 151,374 SF 151,374 SF 193 95%

2International Village1220 E. Algonquin RdSchaumburg, IL 60173

$1.31 701,240 SF 701,240 SF 732 95%

3Fieldpointe Apartments1708 Arbor SquareSchaumburg, IL 60173

$1.56 297,708 SF 297,708 SF 396 95%

4648 Carroll Square, Elk Grove Village648 Carroll SquareElk Grove Village, IL 60007

$1.33 100,225 SF 208,176 SF 114 98.2%

5Forest Cove Apartments1706 Forest CoveMt Prospect, IL 60056

$1.38 227,500 SF 227,500 SF 300 97%

6The Lakes of Schaumburg801 Belinder LnSchaumburg, IL 60173

$1.74 301,600 SF 301,600 SF 428 97%

7The Treehouse of Schaumburg2500 Brush RdSchaumburg, IL 60173

$1.58 609,600 SF 609,600 SF 752 99%

8Village Green of Schaumburg880 Hadley Run LnSchaumburg, IL 60173

$1.81 150,060 SF 150,060 SF 179 96%

LAKESIDE AT WALDENRENT COMPS SUMMARY


9Plum Grove Apartments4655 Kirchoff RdRolling Meadows, IL 60008

$1.69 91,400 SF 91,400 SF 157 99%

RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

TOTALS/AVERAGES $1.54 292,301 SF 304,295 SF 361.22 96.8%

LAKESIDE AT WALDENRENT COMPS SUMMARY


1 BEECH POINTE APARTMENTS60 E Beech DrSchaumburg, IL 60193

2 INTERNATIONAL VILLAGE1220 E. Algonquin RdSchaumburg, IL 60173

3 FIELDPOINTE APARTMENTS1708 Arbor SquareSchaumburg, IL 60173

4 648 CARROLL SQUARE, ELK GROVE VILLAGE648 Carroll SquareElk Grove Village, IL 60007

5 FOREST COVE APARTMENTS1706 Forest CoveMt Prospect, IL 60056

6 THE LAKES OF SCHAUMBURG801 Belinder LnSchaumburg, IL 60173


LAKESIDE AT WALDENRENT COMPS MAP


7 THE TREEHOUSE OF SCHAUMBURG2500 Brush RdSchaumburg, IL 60173

8 VILLAGE GREEN OF SCHAUMBURG880 Hadley Run LnSchaumburg, IL 60173

9 PLUM GROVE APARTMENTS4655 Kirchoff RdRolling Meadows, IL 60008


LAKESIDE AT WALDENRENT COMPS MAP

DEMOGRAPHICS

Section 6


POPULATION 1 MILE 3 MILES 5 MILES

Total Population 7,713 82,268 272,804

Median age 36.1 38.1 39.5

Median age (Male) 35.3 36.9 38.0

Median age (Female) 37.2 39.5 40.9

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 3,278 34,111 108,875

# of persons per HH 2.4 2.4 2.5

Average HH income $79,062 $86,371 $89,451

Average house value $249,143 $315,055 $345,237

* Demographic data derived from 2010 US Census

LAKESIDE AT WALDENDEMOGRAPHICS MAP & REPORT

Documents

Lakeside at Walden 1806, 1810, & 1813 Hemlock Pl ...€¦ · 1806, 1810,& 1813 Hemlock Pl Schaumburg, IL 60172 MATTHEW PETERSEN JOHN MEYER SEAN CONNELLY Broker Managing Director Principal